PRECIOUS METALS

Endeavour lifts Hounde resource by third

Maiden resource estimates on Endeavour Mining’s Kari West and Kari Centre deposits at Hounde in Burkina Faso have resulted in the Canadian company adding 32% more - one million ounces - to Hounde's combined measured and indicated resources.

Staff Reporter
Maiden resources at Kari Centre and Kari West adding longevity at Endeavour Mining’s Hounde mine in Burkina Faso

Maiden resources at Kari Centre and Kari West adding longevity at Endeavour Mining’s Hounde mine in Burkina Faso

Based on more than 350,000m drilled in the Kari areas in the past two years, Hounde currently hosts 4.1 million ounces in 64.1 million tonnes grading 2.01 grams per tonne gold.

Combined with the Kari Pump discovery announced in June, the company has delineated more than 2Moz over the three discoveries at a cost of US$15/oz.

Executive VP for exploration CEO Patrick Bouisset said the results were better than expected and the low exploration cost underscored why investment in exploration continued to be a key strategic priority for the company.

Endeavour said it intended to start another 145,000m drill campaign shortly, which would focus on extending the mineralisation of the Kari discoveries and testing other nearby priority targets within 10km radius of the mill.

The news pushed Endeavour shares (TSX:EDV) trading in Toronto 1.5% higher on Tuesday to C$21.31, which capitalises the company at $2.7 billion. The stock is up about 32% year-on-year, having traded in a band between $16.34-$28.98.

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